THE COFFEE PALACE

Otago Daily Times, Issue 7004, 28 July 1884, Page 4

THE COFFEE PALACE

TO «HB! EDITOR. Sir,—A letter appeared in your issue of the 2J.st, signed " Disappointed Shareholder," and now that the pressure of election correspondence is over you will perhaps allow'rhe space to give the information asked for.

I regret to say that the affairs of the Company have been found to be in such an unsatisfactory state that in the opinion of the directors it is financially impossible to carry oh the business. - Several meetings of creditors have been held, and by their directions tenders were lpvited, both here and in the neighbouring Colonies, for the assets of the Oompany; but no offers were received, and a committee has now been appointed to advise as to the best way of realising. In view of the early dissolution of the Company, I havo arranged with Mr Covered to set apart a portion of tho premises for the Turkish baths ho is about to establish. This can be done without impairing the convenience of the house for it 3 present purposes, and in making the necessary alterations care will be taken to make it even more attractive as a place of public resort. . •

I am aware that many of the original shareholders of the Company subscribed from motives of sympathy with the enterprise rather than with regard to its financial results, and to all who, like your correspondent, take an interest in the business after all hopes of its pecuniary success have vanished, I beg to say that an endeavour will still be made to realise their idea, and, by slightly altering the lines upon which the business is established, to comprise the essentials of extended popularity and commercial success. I believo the project of Mr Coverlid will materially promote the success of its future operation, and that all its wellwishers will yet have the satisfaction of seeing the Coffee Palace a permanent institution m Dunedin.—l am, &c, „ ■. w R. Hudson, Managing Director, and Proprietor of the Premises.

I>unedin, July 25,